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Japan's JV Launches Surface-treated Flat Products Business in Myanmar
= JFE Steel, JFE Shoji Trade, Marubeni Itochu Steel, Hanwa and Meranti set up a JV
JFE Steel announced on 31st that the company, JFE Shoiji Trade, Marubeni Itochu Steel, Hanwa and Meranti Steel has agreed to commence production of hot-rip galvanized steel sheets and colored flat steel products for the building and construction sector and the sales business of them in Myanmar and set up a joint venture (JV) JFE Meranti Myanmar through JFE Meranti Myanmar Holding in Singapore. After obtaining approval from relevant authorties, the JV begins to construct a plant with a hot-dip galvanizing line (with an annual production of 180 thousand tons) and a color coating line (with an annual production of 100 thousand tons). The JV aims to launch operation in 2020, and the total investment in the project is approximately US$85 million. The ratio of shareholding is 35% by JFE Steel, 15% by JFE Shoji, 15% by Marubeni Itochu, 15% by Hanwa and 20% by Meranti.
last modified : Wed 08 Nov, 2017 [10:06]
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